This study examines how directors make decisions that involve shareholders and other stakeholders. Using vignettes … often side with shareholders …

This study investigates how directors make decisions that involve shareholders and other stakeholders. Using vignettes … often side with shareholders …

shareholders. As a result, these directors have incentives to go along with controllers' wishes, or, at least, inadequate … that allows policymakers to produce the precise balance of power between controlling shareholders and public investors that …

shareholders far removed from the firm's day-to-day operations; and delegated management, which opens up the possibility for … appointment rights, by which shareholders retain the right to appoint and remove directors. Next, it focuses on core decision …

Current attempts to reform financial markets presume that shareholder empowerment benefits shareholders. We investigate … the wealth effects associated with the SEC's rule to facilitate director nominations by shareholders. Our results are not … the probability of passage of the proposal, firms whose shareholders are more likely to use the rule to nominate directors …

This paper examines whether post-merger board composition affects the premiums paid to target shareholders. Using a …

Our model shows that it is optimal for shareholders to choose boards of directors whose preferences do not align with … those of the shareholders. Such a board composition works as the shareholders' commitment to providing an incentive for risk …